Finuit's Bank Statement Analyzer simplifies processing of MSME Loan Applications

New Delhi [India], July 2: There are over 6.3 million MSMEs in India, with an unmet credit demand of close to 120 billion USD. Access to small ticket loans for MSMEs is often a long, uncertain process. MSME lending landscape faces challenges of credit underwriting necessary for the approval and disbursal of loans. Credit underwriting requires the applicant's financial data from a myriad of documents such as balance sheets, cashflow, and income statements, to gauge the risk and financial health of the applicant. MSMEs often lack documentation and have a limited credit history which makes it difficult for lenders to process their loan applications.